A look through IRS tax data reveals that 2,840 households with annual income in excess of a million dollars collected unemployment benefits, taking in a total of $18.6 million in aid. That’s about $6550 per millionaire household. Among the millionaires who went on the dole, 806 made $2 million or more a year, and 17 Read More
The National Bureau of Economic Research said today that our economy bottomed out in the June of last year. The 9.6 percent of Americans who are unemployed, the average household whose wealth dropped 2.8 percent in the second quarter and the 3.8 million who fell into poverty in 2009 could be forgiven Read More
Dear Diary,
What do you call it when you’re halfway back in business?
That’s kinda how I feel today. I tacked on 46 points, which puts me up less than half of one percent. Not a rally for the record books, but I’ll take it! Funny how things can change overnight, because yesterday I Read More
Dear Diary,
Things were looking up heading into this past weekend. Four days of upside action from Tuesday to Friday, then a killer three-day weekend to catch my breath. It really seemed for a minute like I had something good going. But I should’ve known it wouldn’t last.
Truthfully, I’m not even sure what it Read More
Talk about a housing crisis! JPMorgan Chase CEO Jamie Dimon is cutting the price he’s asking for his eight-bedroom, nine-bath Chicago mansion, Business Insider reports.
Following a $2.6 million reduction in price, the property, which sits in the Gold Coast neighborhood, is now going for $6.95 million. Dimon first tried to sell the house Read More
Thanks to increased public scrutiny in the era of bailouts, SEC investigations and other forms of government inquiry, newcomers to Wall Street’s top firms aren’t getting the classy treatment they used to, according to this Businessweek trend piece on the death of “sell night.”
On sell nights of yore, investment banks would wine and Read More
The U.S. Department of Labor is heralding the upcoming long weekend by announcing that in August, 54,000 Americans saw their weekends extended indefinitely as employers cut jobs.
Economists surveyed by Reuteres were expecting a nonfarm payroll decline of 99,000. The total number of unemployed Americans ticked up to 14.9 million, and the unemployment Read More
